Digital Assets and online accounts are quickly changing how estate planning and administration are conducted. They are growing rapidly, with each generation becoming increasingly dependent on online activities. If not manage properly, digital property can easily be lost, hidden or forgotten…never to be settled with the estate. They can no longer be ignored and are an essential element to almost every estate.

Almost everyone is online. There are sites and apps that can accomplish almost anything today. There are sites that hold pictures, DNA results and other sentimental matter. Online financial activity is exploding with investing, banking, shopping, collectibles and more. And with no paper or traceable physical record, how can we effectively identify and address the multitudes of digital property?

For estate professionals, there are several new influencing and controlling authorities, significantly impacting our duties and responsibilities. Estates must effectively prepare for obtaining disclosure of information that is locked and protected behind a wall of custodian Terms of Service Agreements, laws and other obstacles. When planning, practitioners and individuals now have to consider a client’s online behavior with matters such as email, online investing/banking, cryptoassets, domain ownership, digital legacies (photos, scans, recordings etc…), and much more. What was once considered the outlier is now becoming commonplace.

Basics of Digital Assets and Online Accounts

This course will introduce the many facets of digital assets and online accounts. We will cover areas of the law and the impact on planning and administration. Areas of discussion will include the Revised Uniform Fiduciary Access to Digital Assets Act (RUFADAA) and other legislative acts, basis of Terms of Service Agreements (TOSA). You’ll learn about the requirements to comply with the laws and TOSAs and what won’t work.

Digital assets are growing rapidly, with each generation more dependent on online activities than the prior. Our digital footprints and legacy, if not managed properly, can be lost, hidden or even a victim of fraud. They can no longer be ignored and are an essential element to almost every estate.